New Delhi, Jul 3 (PTI) - The maximum fee for delayed filing of monthly and quarterly sales return and tax payment form GSTR-3B till July 2020 has been capped at ₹ 500 per return.

"In a major relief to the GST taxpayers, the government has decided to cap the maximum late fee for form GSTR-3B at ₹ 500 per return for the tax period July 2017 to July 2020 subject to the condition that such GSTR -3B returns being filed before September 30, 2020," the CBIC said in a statement.

The Central Board of Indirect Taxes and Customs (CBIC) has notified that there will be nil late fees if there is no tax liability.

In cases where there is any tax liability then a maximum late fee of ₹ 500 per return would be applicable to such GSTR-3B returns filed up to September 30, 2020.

Late fee cap for GSTR 3B returns limits maximum penalty where tax liability exists if filed by the extended deadline. A temporary cap limits the maximum late fee per GSTR 3B return for tax periods July 2017-July 2020, applicable where returns showing tax liability are filed by the extended deadline; returns that disclose no tax liability attract nil late fee.